Business Description

Paradise, Inc., was incorporated under the laws of the State of Florida in September, 1961 as Canaveral Utilities and Development Corporation. After the acquisition and merger of several other assets, the Corporation was renamed Paradise Fruit Company, Inc. in February, 1964, and the corporate name was changed again to Paradise, Inc. during July, 1993. The Company's operations are conducted through two business segments: Candied Fruit and Molded Plastics. Candied Fruit is a production of candied fruit, a basic fruitcake ingredient, sold to manufacturing bakers, institutional users, and retailers for use in home baking. Also, it is based on market conditions, the processing of frozen strawberry products for sale to commercial and institutional such as preservers, dairies, drink manufacturers, etc. Molded Plastics is a production of plastic containers for the Company's products and other molded plastics for sale to unaffiliated customers. The trademarks 'Paradise', 'Dixie', 'Mor-Fruit' and 'Sun-Ripe' are registered with the appropriate Federal and State authorities for use on the Company's candied fruit. These registrations are kept current, as required, and have a value in terms of customer recognition. The Company is also licensed to use the trademarks 'White Swan', 'Queen Anne', 'Palm Beach', 'Golden Crown,' and 'Pennant' in the sale of candied fruit.

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